S. 45 : Capital gains-Builder-Sale of land kept as investment-Assessable as capital gain and not as business income. [S. 28(i)]
S. 45 : Capital gains-Builder-Sale of land kept as investment-Assessable as capital gain and not as business income. [S. 28(i)]
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest paid without deduction of tax at source –Second proviso is held to be applicable.
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payee has shown the income in their return of income-No disallowance can be made.
S. 37(1) : Business expenditure-Capital or revenue-Builder-Brokerage and commission-Held to be allowable as revenue expenditure.
S. 37(1) : Business expenditure-Capital or revenue-Compensation paid towards vacating the premises treating it as revenue expenditure-Question of law admitted. [S.260A].
S. 37(1) : Business expenditure-Aimed at improving practices for better fertility amongst milk animal-Allowable as business expenditure.
S. 37(1) : Business expenditure-Foreign exchange fluctuation loss-Loan to subsidiary-Allowable as business expenditure. [S. 28(i)]
S. 37(1) : Business expenditure-Capital or revenue-Hotel business-Lessee-Renovation expenses-Held to be revenue expenditure.
S. 37(1) : Business expenditure-Ex gratia payment to employees is held to be allowable as deduction on account of commercial expediency.
S. 37(1) : Business expenditure-Paid by account payee cheque-Held to be allowable though the purchaser has informed that no agent was involved in the contract.